Stocks ease in early trading; gold plunges

AP News
Posted: Apr 15, 2013 9:43 AM
Stocks ease in early trading; gold plunges

NEW YORK (AP) — Stocks are opening lower on Wall Street following sharp drops in commodities prices and declines in European markets.

The Dow Jones industrial average was down 53 points at 14,811 shortly after the opening bell Monday, a decline of 0.4 percent.

The Standard & Poor's 500 index fell seven points to 1,581, a loss of 0.5 percent. The Nasdaq composite fell 12 points, or 0.4 percent, to 3,282.

Sprint soared 17 percent to $7.25 after the company agreed to be acquired by Dish Network for $25.5 billion.

European stock indexes were down about 1 percent. Asian stocks also fell.

Gold plunged to $1,400 an ounce for the first time since March 2011 as a sell-off in the metal continued from last week. Oil prices hit their lowest level since mid-December.